II 

118TH CONGRESS 

2D SESSION S. 5374 

To support financing of affordable and reliable energy projects by 

international financial institutions, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

NOVEMBER 21, 2024 

Mr. BARRASSO (for himself, Ms. LUMMIS, Mr. SULLIVAN, and Mr. CRUZ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations 

A BILL 

To support financing of affordable and reliable energy 

projects by international financial institutions, and for 

other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Combating Global Pov5 erty Through Energy Development Act’’. 


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1 SEC. 2. OPPOSITION TO RESTRICTIONS BY INTERNATIONAL 

2 FINANCIAL INSTITUTIONS ON FINANCING OF 

3 CERTAIN ENERGY PROJECTS. 

4 (a) IN GENERAL.—The Secretary shall instruct the 

5 United States Executive Director of each covered inter6 national financial institution to use the voice, vote, and 

7 influence of the United States— 

8 (1) to oppose any rule, regulation, policy, or 

9 guideline that would restrict, prohibit, or have the 

10 effect of restricting or prohibiting, the financing of 

11 coal, oil, natural gas, or civil nuclear energy projects; 

12 and 

13 (2) to rescind each rule, regulation, policy, or 

14 guideline that, as of the date of the enactment of 

15 this Act, restricts or prohibits such financing. 

16 (b) REVERSAL OF POLICIES AT INTERNATIONAL

17 BANK FOR RECONSTRUCTION AND DEVELOPMENT.—The 

18 Secretary shall instruct the United States Executive Di19 rector of the International Bank for Reconstruction and 

20 Development to immediately and vigorously pursue policy 

21 changes at the Bank, through formal initiatives and 

22 through bilateral discussions, that will result in the rever23 sal of the Bank’s— 

24 (1) restrictions on financing coal power genera25 tion; 


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1 (2) prohibitions on financing upstream oil and 

2 gas exploration and production; and 

3 (3) prohibition on financing of civil nuclear en4 ergy projects. 

5 (c) LIMITATION ON FUNDS FOR INTERNATIONAL

6 BANK FOR RECONSTRUCTION AND DEVELOPMENT.—Not 

7 more than 50 percent of amounts made available for the 

8 International Bank for Reconstruction and Development 

9 for fiscal year 2025 or any fiscal year thereafter may be 

10 obligated or expended until the Secretary certifies to the 

11 appropriate congressional committees that the Bank— 

12 (1) has rescinded any rule, regulation, policy, or 

13 guideline that restricts or prohibits, or would have 

14 the effect of restricting or prohibiting, the financing 

15 of any coal, oil, natural gas, or civil nuclear energy 

16 project; and 

17 (2) has in effect a policy promoting the financ18 ing of coal, oil, natural gas, and civil nuclear energy 

19 projects. 

20 (d) PROMOTION OF FINANCING OF ENERGY

21 PROJECTS.—The Secretary, in collaboration with the Sec22 retary of State, the Secretary of Energy, the President 

23 of the Export-Import Bank of the United States, the Chief 

24 Executive Officer of the United States International De25 velopment Finance Corporation, and the heads of other 


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1 appropriate Federal agencies, shall identify steps the 

2 United States can take to promote international financing 

3 of energy projects, including coal, oil, and natural gas 

4 projects, in order to help developing countries access af5 fordable and reliable power. 

6 (e) REPORT REQUIRED.—Not later than 180 days 

7 after the date of the enactment of this Act, and annually 

8 thereafter, the Secretary shall submit to the appropriate 

9 congressional committees a report that includes the fol10 lowing: 

11 (1) A list of all of the rules, regulations, poli12 cies, or guidelines of each covered international fi13 nancial institution that would restrict, prohibit, or 

14 have the effect of restricting or prohibiting, the fi15 nancing of coal, oil, natural gas, or civil nuclear en16 ergy projects. 

17 (2) A detailed description of the efforts of the 

18 United States Executive Director of each such insti19 tution to eliminate those rules, regulations, policies, 

20 or guidelines. 

21 (3) A description of the steps identified under 

22 subsection (d) and progress made in implementing 

23 those steps. 

24 (f) DEFINITIONS.—In this section: 


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1 (1) APPROPRIATE CONGRESSIONAL COMMIT2 TEES.—The term ‘‘appropriate congressional com3 mittees’’ means the Committee on Foreign Relations 

4 of the Senate and the Committee on Foreign Affairs 

5 of the House of Representatives. 

6 (2) COVERED INTERNATIONAL FINANCIAL IN7 STITUTION.—The term ‘‘covered international finan8 cial institution’’ means any of the following: 

9 (A) The International Bank for Recon10 struction and Development. 

11 (B) The International Development Asso12 ciation. 

13 (C) The International Finance Corpora14 tion. 

15 (D) The International Monetary Fund. 

16 (E) The Inter-American Development 

17 Bank. 

18 (F) The Inter-American Investment Cor19 poration. 

20 (G) The North American Development 

21 Bank. 

22 (H) The European Bank for Reconstruc23 tion and Development. 

24 (I) The African Development Bank. 

25 (J) The African Development Fund. 


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1 (K) The Asian Development Bank. 

2 (3) SECRETARY.—The term ‘‘Secretary’’ means 

3 the Secretary of the Treasury. 

Æ 


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